Single-Phase Immersion Cooling is the Largest and Fastest Growing Type Immersion Cooling Market

The Immersion Cooling Market is projected to grow from USD 177 million in 2019 to USD 501 million by 2024, at a CAGR of 23.2% from 2019 to 2024. The increasing server rack density & chip density, new IT use cases, such as harsh edge computing environments, and pressure to reduce energy consumption in data center cooling is expected to drive the immersion cooling market.

Browse 61 market data Tables and 33 Figures spread through 127 Pages and in-depth TOC on "Immersion Cooling Market by Type (Single-Phase and Two-Phase), Application (High Performance Computing, Edge Computing, Cryptocurrency Mining), Cooling Fluid Type (Mineral Oil, Synthetic Oil, Fluorocarbon Based), Geography - Global Forecast to 2024".

Submer Technologies is launching advanced products by providing liquid immersion cooling solutions in Europe and North America. In January 2019, Submer Technologies became a full member of the ETP4HPC, the European Technology Platform for High Performance Computing (HPC). ETP4HPC is an industry-led think-tank composed of European HPC technology stakeholders whose main task is to define research priorities and action plans in the area of HPC technology provision (such as the provision of supercomputing systems). This partnership will enhance the recognition of Submer in the European market.

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The high performance computing segment is projected to lead the immersion cooling market during the forecast period

Based on application, the High Performance Computing (HPC) segment of the immersion cooling market is projected to grow at a higher CAGR during the forecast period. The adoption of HPC is gaining traction, as enterprises across various industry verticals are focusing on scaling-up their complex applications. HPC enables scientists and engineers to solve complex, compute-intensive problems.

Some of the benefits of HPC include high network performance, fast storage, large volume of memory, and very high compute capabilities. Thus, HPC enables organizations to develop new, innovative products and services to maintain a competitive edge in the market. The costs and logistics of conventional cooling become more challenging as server racks become denser thermally. These difficulties are faced in HPC where the systems can be twice or thrice denser. This encourages HPC customers to switch from traditional cooling methods to immersion cooling solutions, thus, driving the growth of the market during the forecast period.

The immersion cooling market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period

The immersion cooling market in the Asia Pacific is projected to grow at the highest CAGR from 2019 to 2024. China, India, Japan, and South Korea are key countries contributing to the increased demand for immersion cooling in this region. The increasing adoption of immersion cooling in applications, such as high performance computing, cryptocurrency mining, edge computing, especially in China, Japan and India is expected to drive the immersion cooling market in the Asia Pacific region during the forecast period.

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Asia Pacific accounted for a major share of the fiberglass roving market

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